Short answer
NICOLET BANKSHARES INC (NIC) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $471M (+7.4% year over year) and net income of $151M.
- Top risk flagged: Regulatory risk from banking and securities laws, ongoing compliance costs with U.S. banking, deposit, insurance, and securities regulations
FY2025 key financial metrics · XBRL
- Revenue
- $471M
- +7.4% YoY
- Net income
- $151M
- +21.5% YoY
- EPS (diluted)
- $9.78
- +21.5% YoY
- ROE
- 12.0%
- +1.4 pp YoY
- Operating cash flow
- $154M
- +14.8% YoY
Source: XBRL data from the NICOLET BANKSHARES INC (NIC) FY2025 10-K on SEC EDGAR. USD.
NICOLET BANKSHARES INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Community banking with lending and deposit services
- Emphasis on expanded share repurchase program, $76.6M repurchased in 2025 vs $10.1M prior year
- Strategic capital management focusing on stock repurchases, organic growth, acquisitions, and dividends
- Total risk-based capital increased to $1.11B with total capital ratio improving to 14.8% from 14.3%
- Board approved $60M increase to common stock repurchase authorization in January 2026
Management Discussion & Analysis
- Revenue $392M total net interest ($306M) + noninterest income ($86M), net interest income up 14% YoY (+$38M) from $268M in 2024
- Operating margin (net interest margin) 3.76% in 2025 vs 3.47% in 2024, return on average assets 1.68% vs 1.45%, return on common equity 12.58% vs 11.27%
- Best segment: Net interest income growth driven by loans $6.8B (+3%) and deposits $7.7B (+4%); worst segment: loan provision up modestly to $4.3M from $3.9M
- Cash flow/capital: repurchased 646,000 shares; increased dividend by 14%; total assets grew $388M (4%) to $9.2B; stockholders’ equity up $85M to $1.3B
- Forward outlook: focus on integrating MidWest One acquisition doubling branches; 2026 results may show merger accounting noise but core profitability expected to remain top quartile
Risk Factors
- Regulatory risk from banking and securities laws, ongoing compliance costs with U.S. banking, deposit, insurance, and securities regulations
- Geographic concentration risk with 77% of loans commercial-related, focused in Wisconsin, Michigan, Minnesota markets
- Credit risk from small to medium-sized business borrowers in core industries like manufacturing and agriculture, vulnerable to economic downturns
- Public health disruption risk including COVID-19-like pandemics causing economic, transactional, and operational instability in hospitality and restaurant clients
- Allowance for credit loss (ACL) adequacy risk; regulatory agencies may require increases impacting net income and capital levels
Generated from the filing text; verify against the original. How to read a 10-K
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